Common use of Termination for IP Challenge Clause in Contracts

Termination for IP Challenge. BIND will have the right to terminate this Agreement in full upon written notice to AstraZeneca in the event that AstraZeneca or any of its Affiliates or Sublicensees directly or indirectly challenges in a legal or administrative proceeding the patentability, enforceability or validity of any BIND Background Patents or Patents within BIND Core IP which are licensed to AstraZeneca hereunder; provided that BIND will not have the right to terminate this Agreement under this Section 14.2(e) for any such challenge by any Sublicensee if (i) such challenge is dismissed within thirty (30) days of BIND’s notice to AstraZeneca under this Section 14.2(e), (ii) such challenge is not reinstituted or continued, (iii) the Sublicense with such Sublicensee is terminated and (iv) AstraZeneca promptly reimburses BIND for all reasonable costs and expenses incurred by BIND in connection with such challenge.